Financing in San Diego>Question Details

biggoldbear, Both Buyer and Seller in Poway, CA

Refinance current house as investment with least down payment, maybe cash out.

Asked by biggoldbear, Poway, CA Wed May 8, 2013

I'm looking to refinance our current home (owe 348, worth ~450-480) as an investment property. We are planning on staying in our house, but could be persuaded to into moving up to a bigger house if something "perfect" comes up. I'd like to refinance our current house with the least amount of closing costs and potentially cash out if possible.

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3
The best thing to do is have a lender look at your specific scenario and give you your options.

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0 votes Thank Flag Link Thu Nov 21, 2013
Thank you for your honesty!!!
As long as the possibility is tenative I think we would still call it an owner occupied. Would need to talk more about that.

Rich Littlefield
Loan officer
PacTrust Bank
714-421-1037 (cell)
0 votes Thank Flag Link Wed May 8, 2013
As long as you are living in it, you might to do that transaction as a refi/cash-out of a "Principal Residence"....It will help with the rate and the cash-Out option.

We offer no costs loans (no points, no closing costs).

Let me know if we can assist

Thierry Abel
Senior Loan Consultant
All California Mortgage
A Division of APMC
P: (415) 464-8261
0 votes Thank Flag Link Wed May 8, 2013
While we are planning on staying in our house for the next couple years, we are always keeping our eyes out for the "perfect" house and would like the flexibility to be able to react quickly if possible.
Flag Wed May 8, 2013
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